Over the course of this summer, Walmart released Walmart Pay. This app lets users create an account on Walmart’s website, enter your card information, and allows users to use Walmart Pay, which is essentially scanning a QR code to pay for your items. Also, last week, CVS announced CVS Pay, which will be a feature that is coming soon to their mobile app. Both businesses do not accept Apple Pay or any other NFC payment methods at the moment. Here is why these payment systems are wrong.
Both of them rely on users to create an account for their websites, put in their credit/debit card information, and then pay for items in the store via your smartphone. My personal complaint is the threat of the store’s website being hacked and people’s card information being spread all around the internet like confetti at the Super Bowl.
We cannot have this. Not only is it not smart, it’s inconvenient for the customer. Customers have to gain the trust to use these types of services and also have to download yet another app onto their already app-crowded smartphone.
Apple Pay fixes this by having the Wallet app embedded on the iPhone and Apple Watch, but works the way it should. When you put your iPhone or Apple Watch up to the credit/debit card reader, the screen automatically opens up Apple Pay and users can do their part, put their finger and the Touch ID scanner, and pay. Just like that, the transaction has been completed.
If Walmart and CVS really wanted to make a splash into the new mobile payment world, then they could allow for customers to pay for things directly through the app using Apple Pay. Now that Walmart is going to allow for customers to pay for their groceries online and have them delivered via Jet, allowing them to pay with Apple Pay is a seamless experience and easy on both ends. Target (affiliated with CVS) allows customers to order and pay for items directly through their iOS app, and I can say that based on my personal experience, it worked out great for both parties.
Being able to pay for things online and in-store via Apple Pay and other NFC payments is something that is completely new. However, if done right, not only can businesses make more money, but can also make customers happier. Walmart and CVS Pay are decent ideas, but allowing users to pay with items with debit/credit card apps (Wallet) that are already installed on the devices (and more encrypted) is a lot smarter.
This is where the future of retail shopping is heading, so pay the money now (for using Apple Pay services) and allow for more satisfied customers to use those services or get stuck in the past and lose customers. The choice is yours…